Who is Girish Gulati?

Girish Gulati is a high-conviction small-cap investor whose publicly disclosed portfolio spans 13 listed companies worth ₹365.81 cr as of February 2026. He is known for concentrating his investments in niche industrial and engineering businesses and invests through both a personal account and a Hindu Undivided Family (HUF) entity.

What are the top holdings in the Girish Gulati portfolio?

As of 18th February 2026, some of Girish Gulati's largest holdings by value include: Thejo Engineering Ltd TIL Ltd Ador Welding Ltd Avantel Ltd Kalyani Cast-Tech Ltd Disclaimer: This information on top Girish Gulati stocks is for educational purposes only and should not be considered investment advice.

What is Girish Gulati's net worth?

Girish Gulati's publicly disclosed stock portfolio is worth ₹365.81 cr as of February 2026. This figure only reflects his traceable equity holdings reported to stock exchanges and does not account for any unlisted investments, real estate, or other financial assets he may hold. His actual net worth is likely higher than what public disclosures reveal.

What stocks are in Girish Gulati's portfolio?

As of February 2026, Girish Gulati holds 13 publicly disclosed companies across sectors, including industrial manufacturing, engineering, defence electronics, speciality chemicals, textiles, logistics, agro-chemicals, and footwear.

What is Girish Gulati's investment strategy?

Girish Gulati follows a high-conviction small-cap investing approach, concentrating his portfolio in a limited number of niche industrial and engineering businesses. He prefers holding positions across multiple quarters with minimal churn, suggesting a long-term, fundamentals-driven approach. He also uses a Hindu Undivided Family (HUF) entity alongside his personal account, reflecting a structured and tax-efficient approach to wealth management.

Girish Gulati Investment Portfolio and Latest Shareholdings (2026)

Girish Gulati is a high-conviction small-cap investor whose publicly disclosed portfolio spans 13 listed companies worth ₹365.81 cr as of February 2026. He concentrates his bets in niche industrial and engineering businesses that most mainstream investors tend to overlook, with Thejo Engineering alone accounting for nearly 38% of his portfolio. He also invests through a Hindu Undivided Family (HUF) entity alongside his personal account. This blog breaks down his portfolio composition, investment strategy, and key stock selection factors.

Latest Girish Gulati Stock Portfolio & Holdings (2026)

Girish Gulati Portfolio Stock Screener

Girish Gulati Portfolio Stock Screener: Analyse & Filter Indian Stocks on Tickertape

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Showing 1 - 13 of 13 results

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	NameStocks (13)↓	↓Sub-SectorSub-Sector↓	↓Market CapMarket Cap↓	↓Close PriceClose Price↓	↓PE RatioPE Ratio↓	↓1D Return1D Return↓	↓1M Return1M Return↓	↓6M Return6M Return↓	↓1Y Return1Y Return↓	↓PB RatioPB Ratio↓	↓Return on EquityReturn on Equity↓	↓ROCEROCE↓	↓Dividend YieldDiv Yield↓	↓Debt to EquityDebt to Equity↓	↓Volatility vs NiftyVolatility vs Nifty↓
1.	Avantel Ltd AVANTEL	Communication & NetworkingCommunication & Networking	3,738.293,738.29	140.13140.13	66.2266.22	-3.43-3.43	-7.32-7.32	-19.10-19.10	25.1925.19	15.7615.76	28.1328.13	32.3032.30	0.130.13	0.110.11	4.254.25
2.	Thejo Engineering Ltd THEJO	Construction & EngineeringConstruction & Engineering	1,774.641,774.64	1,636.001,636.00	35.5635.56	0.340.34	-4.38-4.38	-11.83-11.83	-1.97-1.97	5.545.54	16.8316.83	21.0821.08	0.310.31	0.090.09	2.912.91
3.	Ador Welding Ltd ADOR	Industrial MachineryIndustrial Machinery	1,718.181,718.18	987.30987.30	28.6128.61	-2.47-2.47	-6.44-6.44	4.124.12	12.7812.78	3.393.39	12.2512.25	17.8317.83	2.032.03	0.000.00	2.562.56
4.	TIL Ltd TIL	Heavy MachineryHeavy Machinery	1,280.691,280.69	192.29192.29	447.79447.79	-4.12-4.12	-22.46-22.46	-34.03-34.03	2.402.40	15.5515.55	5.025.02	13.0613.06	--	3.453.45	3.903.90
5.	DMCC Speciality Chemicals Ltd DMCC	Diversified ChemicalsDiversified Chemicals	555.29555.29	222.65222.65	25.7925.79	0.080.08	-1.40-1.40	-26.70-26.70	-25.41-25.41	2.442.44	9.859.85	15.3915.39	1.121.12	0.320.32	3.383.38
6.	Jayant Agro-Organics Ltd JAYAGROGN	Specialty ChemicalsSpecialty Chemicals	545.31545.31	181.77181.77	9.939.93	-0.81-0.81	3.873.87	-23.72-23.72	-27.69-27.69	0.890.89	9.279.27	13.9913.99	1.381.38	0.180.18	2.572.57
7.	Sical Logistics Ltd SICALLOG	LogisticsLogistics	518.60518.60	65.0065.00	-20.08-20.08	0.570.57	-13.29-13.29	-15.48-15.48	-12.96-12.96	4.004.00	-18.11-18.11	2.672.67	--	4.694.69	3.953.95
8.	Kalyani Cast-Tech Ltd KALYANI	Industrial MachineryIndustrial Machinery	357.12357.12	497.35497.35	25.0825.08	0.270.27	5.395.39	-15.18-15.18	24.3524.35	5.495.49	24.5724.57	29.6229.62	--	0.080.08	3.223.22
9.	Shiva Texyarn Ltd SHIVATEX	TextilesTextiles	193.36193.36	149.17149.17	16.0216.02	0.350.35	-13.92-13.92	-17.13-17.13	-19.02-19.02	1.431.43	9.339.33	11.3811.38	0.400.40	0.780.78	2.642.64
10.	Khadim India Ltd KHADIM	FootwearFootwear	189.54189.54	103.13103.13	37.5337.53	-1.28-1.28	-37.31-37.31	-57.46-57.46	-55.36-55.36	0.750.75	2.062.06	8.818.81	--	1.181.18	3.353.35
11.	Aarvi Encon Ltd AARVI	Outsourced servicesOutsourced services	183.71183.71	124.04124.04	18.2618.26	-4.63-4.63	-5.29-5.29	-0.47-0.47	15.3115.31	1.471.47	8.318.31	11.4011.40	1.611.61	0.210.21	3.523.52
12.	Remi Edelstahl Tubulars Ltd REMIEDEL	Iron & SteelIron & Steel	169.35169.35	134.25134.25	63.4363.43	0.190.19	6.266.26	-17.36-17.36	70.4870.48	3.083.08	4.974.97	8.868.86	--	0.110.11	4.094.09
13.	KSR Footwear Ltd KSR	FootwearFootwear	65.7965.79	35.8035.80	-4.60-4.60	1.991.99	35.1535.15	10.9010.90	10.9010.90	--	--	--	--	--	6.866.86

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Disclaimer: Please note that the above table is for informational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing. The data is derived from Tickertape Stock Screener and is subject to real-time updates.

Selection criteria: The table contains publicly disclosed Girish Gulati investment portfolio as on 26th February 2026. Stocks are sorted by market capitalisation, highest to lowest.

Girish Gulati’s Bulk and Block Deals

Bulk and block deals improve market transparency and explain sharp changes in stock volumes. When an investor like Girish Gulati executes these transactions, it signals a deliberate shift in portfolio positioning or a fresh capital deployment decision. Tracking these deals helps analysts and investors understand which sectors Girish Gulati is moving into or stepping back from, and how his overall investment approach is evolving over time.

Here's how you can find the latest bulk and block deals by Girish Gulati:

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The results display Girish Gulati's latest bulk and block deal activity across BSE and NSE. The platform also allows date filtering to review historical transactions and identify patterns in his capital deployment over time.

Investor Profile – Girish Gulati

Girish Gulati is an Indian equity investor and is known for building high-conviction, concentrated positions in small-cap and niche industrial companies. He invests through two disclosed entities, his personal account and a separate HUF account called Girish Gulati HUF, both of which reflect a consistent preference for under-the-radar businesses with strong fundamentals and long-term growth potential.

Name: Girish Gulati
Known investment entities: Girish Gulati (personal) and Girish Gulati HUF
Portfolio net worth: Over ₹365.8 cr. as per December 2025 filings
No. of portfolio companies: 13 active stocks
Primary focus: Small-cap and niche industrial, engineering, and speciality companies

His notable holdings include companies from sectors such as engineering, logistics, textiles, and agro-chemicals, underscoring his focus on businesses that operate in specific segments with limited competition and strong earnings potential. His use of a separate HUF investment vehicle also suggests a structured, long-term approach to wealth creation across generations.

Top Stocks in Girish Gulati Portfolio (2026)

Thejo Engineering Ltd

Thejo Engineering produces rubber lining, conveyor belts, and wear protection solutions for mining, steel, and cement industries. The company supplies maintenance and replacement products to heavy process industries. Ongoing capital expenditure in core sectors and rising demand for industrial wear solutions in domestic and export markets support its business.

TIL Ltd

TIL manufactures material handling and construction equipment, such as cranes and forklifts. The company serves infrastructure, port, and industrial clients. It also operates as an authorised partner for global equipment brands. Infrastructure expansion in India, higher port activity, and rising demand for mechanised material handling across industrial and logistics sectors drive its growth.

Ador Welding Ltd

Ador Welding manufactures welding products, equipment, and consumables for engineering, construction, defence, and automotive industries. It ranks among the oldest welding companies in India. Rising industrial activity, infrastructure spending, and wider adoption of advanced welding technologies across manufacturing and heavy engineering sectors strengthen its position.

Avantel Ltd

Avantel designs and manufactures defence and satellite communication systems mainly for Indian defence and government agencies. The company works in niche segments such as sonobuoys, satcom terminals, and underwater acoustic systems. India’s defence indigenisation push and higher government spending on domestic defence electronics support its operations.

Kalyani Cast-Tech Ltd

Kalyani Cast-Tech produces precision castings and machined components for automotive, industrial, and engineering applications. The company benefits from increasing localisation in auto component manufacturing and higher demand for precision-engineered parts from domestic and export clients. Its operations align with India’s manufacturing expansion and production-linked incentive-driven industrial growth.

Girish Gulati Portfolio Composition

Here are the 13 active stocks publicly held by Girish Gulati as of February 2026:

Company Name	Sep 2025 Holding (%)	Dec 2025 Holding (%)	Holding Value (₹ cr)
Thejo Engineering Ltd	7.6%	7.6%	138.1
TIL Ltd	4.3%	4.3%	64.7
Ador Welding Ltd	2.5%	2.5%	47.8
Avantel Ltd	1.2%	1.2%	47.2
Kalyani Cast-Tech Ltd	New	5.5%	19.5
DMCC Speciality Chemicals Ltd	2.3%	2.3%	13.6
Shiva Texyarn Ltd	3.8%	3.8%	8.0
Aarvi Encon Ltd	3.5%	3.5%	6.7
Jayant Agro-Organics Ltd	1.1%	1.1%	5.8
Remi Edelstahl Tubulars Ltd	New	3.2%	4.9
Sical Logistics Ltd	1.0%	1.0%	4.6
Khadim India Ltd	1.5%	1.4%	3.7
KSR Footwear Ltd	New	2.0%	1.1

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What is the Net Worth of Girish Gulati?

Girish Gulati holds a publicly disclosed portfolio worth ₹365.81 cr as of February 2026. His net worth history shows a volatile but rewarding journey. He started small in 2015. His portfolio surged between 2017 and 2018 and delivered gains of 2,478.79% and 1,135.92% in successive periods, driven by concentrated small-cap bets.

The portfolio went through a consolidation phase in 2019 and 2020. It rebounded sharply from 2021 and crossed ₹600 cr by late 2023. A correction of around 23% from late 2023 to early 2026 brought valuations back to current levels. This movement reflects the inherent volatility of a high-conviction small-cap portfolio.

Girish Gulati's Investment Strategy

High Conviction Bets

Girish Gulati concentrates his portfolio in a limited number of stocks instead of spreading capital across dozens of companies. His top holding, Thejo Engineering, accounts for nearly 38% of his total disclosed portfolio. This allocation shows strong conviction in businesses he understands well.

Niche Industrial Focus

His portfolio focuses on niche industrial and engineering companies that operate in specialised segments with limited direct competition. Thejo Engineering, TIL, Ador Welding, and Remi Edelstahl Tubulars serve specific industrial markets where companies often enjoy stronger pricing power and higher customer stickiness than in commoditised sectors.

Long Term Holding Pattern

Gulati follows a patient approach. He has held positions such as Thejo Engineering and DMCC Speciality Chemicals across multiple quarters with little or no change in stake. He prefers holding quality businesses through market cycles instead of trading for short-term gains.

Structured Wealth Management

He uses a Hindu Undivided Family HUF entity along with his personal account. This structure shows a planned approach to wealth management. It helps optimise tax efficiency while maintaining continuity across family assets.

Selective New Additions

He adds new stocks selectively. Kalyani Cast-Tech, Remi Edelstahl Tubulars, and KSR Footwear entered his portfolio as new additions in recent quarters. This pattern shows that he continues to search for opportunities in under-researched small-cap segments.

Learnings from the Girish Gulati Portfolio

Concentration Creates Wealth

Girish Gulati allocates nearly 38% of his portfolio to Thejo Engineering. This allocation shows that strong conviction in a business can generate significant returns. Diversification reduces risk, but excessive diversification can dilute returns from high conviction ideas.

Niche Businesses Deserve Attention

Many of his holdings operate in specialised industrial segments that mainstream participants often overlook. Thejo Engineering operates in wear protection, and DMCC Speciality Chemicals operates in speciality chemicals. These businesses face less competition and often maintain stronger pricing power and margins.

Patience Over Timing

Gulati has seen drawdowns of more than 37% in a single period without making major changes to core positions. His net worth journey from 2015 to 2026 shows that he stays invested through volatility instead of reacting to short-term price movements.

Structure Your Investments

He uses an HUF entity along with a personal account. This structure highlights the importance of tax-efficient planning. Many retail participants ignore this step until much later in their investment journey.

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Factors Affecting Stock Selection in the Girish Gulati Portfolio

Niche Market Positioning

Gulati prefers companies that operate in specialised industrial segments such as wear protection, welding consumables, defence electronics, and speciality chemicals. These businesses face fewer competitors and build stronger customer relationships based on technical expertise rather than price alone.

Manufacturing and Industrial Tailwinds

A large part of his portfolio benefits from India's push toward domestic manufacturing, infrastructure expansion, and defence indigenisation. Avantel in defence electronics and TIL in material handling equipment benefit directly from these structural trends.

Small and Mid Cap Universe

Gulati invests in companies below the large-cap threshold. These segments often have higher information gaps. Patient investors who conduct deep research can identify mispriced opportunities before broader market participation increases.

Low Portfolio Churn

Most of his core holdings have remained unchanged across multiple quarters. This pattern shows that he focuses on business fundamentals and earnings visibility instead of short-term price triggers.

Valuation Discipline

Kalyani Cast-Tech and KSR Footwear entered his portfolio as new additions in recent quarters. This timing suggests that he waits for suitable valuation levels before taking a position instead of chasing stocks after re-rating.

Conclusion

Girish Gulati's portfolio offers a compelling case study in focused, patient small-cap investing. His consistent preference for niche industrial businesses, willingness to hold concentrated positions across market cycles, and structured use of both personal and HUF accounts reflect a disciplined and well-thought-out investment philosophy. His net worth history, marked by sharp gains and periodic corrections, also underscores the inherent volatility that comes with high-conviction small-cap investing.

That said, replicating his portfolio without understanding the underlying businesses and their risk profiles is not advisable. Every investor has a unique financial situation, risk appetite, and investment horizon. If you want to explore stocks with similar characteristics, the Tickertape Stock Screener lets you filter companies by sector, market cap, financial ratios, and other parameters to build a watchlist suited to your own investment framework.

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Frequently Asked Questions About the Girish Gulati Portfolio

Who is Girish Gulati?
Girish Gulati is a high-conviction small-cap investor whose publicly disclosed portfolio spans 13 listed companies worth ₹365.81 cr as of February 2026. He is known for concentrating his investments in niche industrial and engineering businesses and invests through both a personal account and a Hindu Undivided Family (HUF) entity.
What are the top holdings in the Girish Gulati portfolio?
As of 18th February 2026, some of Girish Gulati's largest holdings by value include:
Disclaimer: This information on top Girish Gulati stocks is for educational purposes only and should not be considered investment advice.
What is Girish Gulati's net worth?
Girish Gulati's publicly disclosed stock portfolio is worth ₹365.81 cr as of February 2026. This figure only reflects his traceable equity holdings reported to stock exchanges and does not account for any unlisted investments, real estate, or other financial assets he may hold. His actual net worth is likely higher than what public disclosures reveal.
What stocks are in Girish Gulati's portfolio?
As of February 2026, Girish Gulati holds 13 publicly disclosed companies across sectors, including industrial manufacturing, engineering, defence electronics, speciality chemicals, textiles, logistics, agro-chemicals, and footwear.
What is Girish Gulati's investment strategy?
Girish Gulati follows a high-conviction small-cap investing approach, concentrating his portfolio in a limited number of niche industrial and engineering businesses. He prefers holding positions across multiple quarters with minimal churn, suggesting a long-term, fundamentals-driven approach. He also uses a Hindu Undivided Family (HUF) entity alongside his personal account, reflecting a structured and tax-efficient approach to wealth management.

Disclaimer: This article is for informational purposes only. The content of the article, including securities/investment products mentioned, if any, should not in any manner be construed as investment advice, recommendation, offer, or solicitation to buy/hold/sell any securities/investment products. The securities quoted, if any, are for illustration only and are not recommendatory. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Please consult a SEBI-registered financial advisor before investing.